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World Cup Stadium Contract for Aecom - Analyst Blog

Aecom Technology Corporation
(
ACM
) has recently procured a consultancy services contract for the
Al Wakrah Stadium and Precinct for the 2022 FIFA World Cup due to
be held in Qatar from The Qatar 2022 Supreme Committee. The
financial details of the contract have not been disclosed
yet.

As per the terms of the contract, Aecom will be providing
consultancy and supervision services for the design and
construction work of the stadium. Aecom will be working in
association with Zaha Hadid Architects in this project for design
consultancy.

Al Wakrah, located approximately 12 miles south of Doha, will
be the host city for 2022 FIFA World Cup. The project plan
includes capacity enhancement of the stadium up to 45,000
spectators, integrating cooling-technology systems with
climate-control requirements for renewable energy production.

While offering its consultancy services, Aecom will strive to
portray the rich cultural and architectural heritage of the city
as an element of the design. Work on the project is expected to
start immediately.

Based in Los Angeles, CA, Aecom is a global provider of
professional technical and management support services to a broad
range of markets, including transportation, facilities,
environmental and energy.

The company's Management Support Services segment offers
facilities management and maintenance, training, logistics,
consulting, technical assistance, and systems integration
services, primarily to the agencies of the United States
government.

In the recent past, several companies in the U.S. have reduced
spending on technical services due to economic uncertainties. The
issue was further compounded by the slowdown in China and the
Eurozone debt crisis. However, as global issues have begun to
stabilize, the sector is expected to recover gradually. As a
leading player in the sector, Aecom is expected to reap huge
benefits, going forward.

In addition, the company reported strong quarterly results,
beating the Zack Consensus Estimate in the last three quarters.
Currently, its stocks are trading high with a year-to-date return
of 23.43%.

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